US to provide at least 1 bln dollars for tire companies

US government has provided at 1 billion dollars for over 210,000 tire companies in America since April.

Amongst, tire agencies received 100,000 dollars to 180,000 dollars of loan per company. There were 193 tire retread companies receiving 142 million yuan to 246 million dollars of loan, and 124 tire manufacturers receiving 160 million dollars to 342 million dollars of loan.

The United Steelworkers (USW) union on July 15 welcomed the ITC's preliminary determination on passenger vehicle and light truck (PVLT) tires from Korea, Taiwan, Thailand and Vietnam.

"Domestic tire workers, including USW members, know better than anyone how much dumping and illegal subsides hurt our industries and jeopardize U.S. jobs," said USW International President Tom Conway. "They've lived in fear for far too long that their good, family-sustaining jobs and their communities would be the next victims of bad actors looking to exploit the American market.

"Today's ITC determination allows us to move forward with a much-needed investigation into these four countries' trading practices and ultimately institute remedies that will allow U.S. tire producers to compete on a level playing field."

The USW filed antidumping (AD) and countervailing duty (CVD) petitions against the four countries on May 13. The Commerce Department initiated an investigation on June 23.

"U.S. workers need help now," said Kevin Johnsen, who chairs the USW's Rubber and Plastics Industry Conference. "They cannot be left to contend with unfair trade on their own.

"Today's decision is a step in the right direction toward staunching the flow of illegally traded PVLT tires into the United States."

The USW is the largest North American union in tire manufacturing, representing workers who make PVLT tires at plants in eight states: Alabama, Arkansas, Indiana, Kansas, Ohio, North Carolina, New York and Virginia.